Payments in the Metaverse Part 3: The On-Ramp to Metaverse Purchases
We’ve looked at what the metaverse could be, and how we’ll pay for the digital goods and services within it. But now, let’s look at payments in the metaverse, how payments will work between reality and virtual reality, and how we plan to innovate in order to contribute to dcommerce (digital commerce).
Getting Granular About Payments in the Metaverse
No one can say for sure exactly what the metaverse will look like or how we’ll pay for goods and services within it. But we do have some pretty good ideas.
One thing we do know is that cryptocurrency and blockchain are poised to play a role in payments within the metaverse. Crypto, NFTs, and future digital assets will be a part of the foundation of the metaverse,with the planned interoperability of the metaverse allowing for the ability to use your NFTs in both real life and in the metaverse itself.
Interoperability “allows blockchain ecosystems to interact, share arbitrary data, and utilize each other’s features and services,” according to Akash Takyar, CEO of LeewayHertz. As we mentioned in our first metaverse post, there won’t be one metaverse but multiple. That interoperability will allow users to seamlessly move from one metaverse to the next. Think of how you navigate from website to website now, but imagine that being as seamless as walking from store to store in a mall.
It will be just as seamless to pay as it will be to move between metaverses. Gone will be the days of filling out time consuming forms, as it’s anticipated that all of that information will be stored within your avatar.
How Pockyt Plans to Play a Part in the Metaverse
As our lives flux in and out of reality and the metaverse, there’s a strong emphasis on currency exchange in general. We’re very excited about all of the possibilities that the metaverse will bring, and how it will change commerce in our everyday lives. So much so that we’re planning on payments within the metaverse to be a big part of our future as a company.
We have plans to add crypto payment enablement to our suite of services, with carryover into the metaverse and web 3.0. Adding a crypto on-ramp to our integration will allow consumers fiat payment acceptance to directly purchase NFT or other crypto assets in the metaverse from your business. Yes, that means you can seamlessly exchange real-world money for crypto coins, so you can spend cash on a digital asset. And on the flipside, you can spend cryptocurrency on something you want to buy in the real world that isn’t accessible via the metaverse.
Staying relevant means being prepared for the next shift in commerce, and for businesses, that’s critical. Breaking down the barriers between global and digital payments is the best way to start.
Are You Ready for the Metaverse?
Is your company preparing for web 3.0? Because your competitors likely are. We want to help your brand be ready for dcommerce and doing business in the metaverse. Adding our integration to your current point of sale system will not only allow you to take advantage of our upcoming crypto enablement, but will also allow you to accept the most popular international wallets. Opening your brand up to more than 2 billion international consumers. Are you ready to take your first step into the future? Contact our team today and set up a virtual chat!